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AgriCast Episode 15: December 5, 2024 | Beef market trends and US supply shortages
AgriCast
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12/4/2024
Shan Goodwin, ACM's national beef writer, highlights the optimism in Australia's beef sector, driven by favourable weather and global market shifts.
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News
Transcript
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00:00
Jess Hi welcome to AgriCast by ACM and we're taking
00:11
a look at the latest news in the beef industry and Shan Goodwin is with us, the National
00:16
Beef Writer. So what's high on the agenda for those in the beef industry at the moment?
00:20
Shan Well the market and the weather are always
00:22
the top conversation topics for those in cattle and we've had fantastic rain that's been received
00:28
across big stretches of cattle country in New South Wales and Queensland and even pushing
00:34
into the southern states in the past week and that's seen key indicators shoot up. But
00:39
it's probably the dynamics sitting behind the global markets for beef that is providing
00:44
the most fodder for optimism right now. Recently there was a big producer day held near Tamworth
00:51
that was hosted by the Peak Industry Council Cattle Australia. There were around 500 people
00:56
that attended that day. They came from properties all over Australia and certainly what's going
01:01
on in beef export markets was well and truly unpacked.
01:04
Jess Yeah what's happening overseas because it's
01:07
not looking good for people in the beef industry overseas in some parts but that might be good
01:12
for us.
01:13
Shan Yeah well the US is the big one for us. Their
01:15
ranches have been liquidating for years now due to drought and their cow calf numbers
01:20
are at low levels, extremely low levels, which means as they start to rebuild their beef
01:24
supply will stay low. That means there's a big gap for Australian beef to fill both
01:29
in the US itself where burgers are a massive part of the diet but also in some other very
01:34
lucrative markets like Japan and China where US and Australian beef have traditionally
01:40
gone head to head. But of course Trump and his tariffs is the big unknown. He's just
01:44
indicated he will slap 25 percent on Mexico and Canada. Both those countries are big suppliers
01:50
of beef and live cattle to the US. Just a wait and see as to how Australian beef will
01:56
fare under Trump.
01:57
Jess Shan Goodwin, thank you so much for your insight.
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